REG - Filtronic PLC - Trading Update

FiltronicAnnouncement

24/04/2024 07:00

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20240424:nRSX7916La&default-theme=true

RNS Number : 7916L  Filtronic PLC  24 April 2024

24 April 2024

Filtronic plc

 

 
("Filtronic" or the "Company")

 

IMPROVED OUTLOOK FOR FY2024 AND FY2025

 

Filtronic plc (AIM: FTC), the designer and manufacturer of products for the
aerospace, defence, telecoms infrastructure and low earth orbit ("LEO") space
markets, is pleased to announce the outlook for both FY2024 and FY2025 will
exceed current market estimates.

 

Filtronic closed several significant contracts with new customers in the first
half of FY2024, including important initial production orders in the
fast-growing LEO space market. The Company has been successful in executing
these contracts over the last six months and as such FY2024 revenue will now
be marginally ahead of expectations and EBITDA will be significantly ahead of
expectations.

 

These recent contract wins give us better visibility over the medium term due
to the growing orderbook, increased confidence in the LEO space market and the
ability of Filtronic to scale manufacturing in support of the LEO
constellation and ground station deployment. As a result, we expect FY2025 to
be significantly ahead of current market expectations for both revenue and
EBITDA.

 

Richard Gibbs, Chief Executive Officer, commented: "the Filtronic team has
always excelled in delivering world-class products to our core markets. The
recent investments in our engineering and operations team have enhanced our
ability to deliver innovative, cost-effective RF solutions to a demanding
timescale, and this in turn has positioned us well with some of the largest
space and aerospace customers in world. It is pleasing to see this effort
being recognised in our financial results."

 

 

 

Enquiries:

 Filtronic plc                                              Tel. 01740 618800 or investor.relations@filtronic.com
                                                            (mailto:investor.relations@filtronic.com)
 Richard Gibbs (Chief Executive Officer)
 Michael Tyerman (Chief Financial Officer)

 Cavendish Capital Markets Limited                          Tel. 020 7220 0500
 Jonny Franklin-Adams/George Dollemore (Corporate Finance)
 Sunila de Silva (ECM)

 Walbrook PR Limited                                        Tel. 020 7933 8780
 Nick Rome/Joe Walker                                       Mob. 07768 807 631

                                                            filtronic@walbrookpr.com (mailto:filtronic@walbrookpr.com)

 

Note: This announcement contains inside information which is disclosed in
accordance with the Market Abuse Regulation.

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  TSTMZGZDMDDGDZG